Nellon Bowry Photo Credit: V.I. LEGISLATURE
During the Government Employees' Retirement System's final board meeting for 2024, trustees were informed of the progress being made on the hotel development at Havensite. The board also acknowledged the impending end of Nellon Bowry's tenure as a trustee.
During GERS Administrator Angel Dawson's report, he estimates that the hotel development at Havensite is almost three quarters of the way towards completion. The current goal, said Mr. Dawson, is to have roof and window work completed by Christmas. Once a “dry building” is accomplished, interior finish work can begin, with a goal date of May 2025 for full completion.
“We'd like for them to open soon that we can begin to collect rent and our percentage of the profits,” Mr. Dawson remarked. The Havensite complex itself will undergo a rebranding “early in 2025”, complete with a new name, the administrator continued. A new generator for the facility is in the process of being commissioned and should be online “imminently,” the administrator said.
Mr. Dawson lauded the overall financial health of GERS, noting that the system, for the first time in almost 30 years, recorded a net positive cashflow. “That's a trajectory that we definitely hope and plan to be able to continue,” he said, noting that he observed “additional efforts” being undertaken in Washington D.C. in pursuit of securing the rum cover-over tax extender and related retroactive payments.
Towards the end of the meeting, board chair Dwane Callwood made a point to thank trustee Nellan Bowry for his service to GERS, as his term on the board comes to an end on December 19. “He was my instructor for Finance 101 at the University of the Virgin Islands when I was fresh out of high school,” Mr. Callwood recollected. “I never in my wildest dream thought at the time that I would end up serving on a board with him.” Mr. Bowry was lauded for his long years in public service, having held positions as director of the Office of Management and Budget, as well as chair of the Territorial Hospital Board.
Other trustees and GERS staff members also thanked Mr. Bowry – a former GERS chair – for his contributions on the board and in the public sector.
For his part, Mr. Bowry promised to remain accessible to the GERS, saying that he is “always willing” to offer assistance and support to the board “in any way that I can.”
